Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2021

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

6. Goodwill and Other Intangible Assets

The Company reports all of its goodwill in the Debit and Credit segment at September 30, 2021 and December 31, 2020. Goodwill is tested for impairment at least annually on October 1 or more frequently when an event occurs or circumstances change that indicate the carrying value may not be recoverable. The Company did not identify a triggering event requiring a quantitative test for impairment as of September 30, 2021.

Intangible assets consist of customer relationships, technology and software, and trademarks. Intangible amortization expense was $1,088 and $1,149 for the three months ended September 30, 2021 and 2020, respectively, and $3,386 and $3,447 for the nine months ended September 30, 2021 and 2020, respectively.

At September 30, 2021 and December 31, 2020, intangible assets, excluding goodwill, were comprised of the following:

		September 30, 2021						December 31, 2020
	Weighted Average			Accumulated		Net Book				Accumulated		Net Book
	Life (Years)	Cost		Amortization		Value		Cost		Amortization		Value
Customer relationships	17.2	$	55,454	$	(34,600)	$	20,854	$	55,454		(32,141)	$	23,313
Technology and software	8		7,101		(6,517)		584		7,101		(5,881)		1,220
Trademarks	8.7		3,330		(1,947)		1,383		3,330		(1,656)		1,674
Intangible assets subject to amortization		$	65,885	$	(43,064)	$	22,821	$	65,885	$	(39,678)	$	26,207

The estimated future aggregate amortization expense for the identified amortizable intangibles noted above as of September 30, 2021 was as follows:

2021 (excluding the nine months ended September 30, 2021)	$	966
2022		3,867
2023		3,867
2024		3,630
2025		3,440
Thereafter		7,051
	$	22,821